Tag Archives: scams

FORECLOSURE RESCUE SCAMS

By Alexx, Staff Attorney and Mike, Law Clerk

LOAN MODIFICATIONS GUARANTEED!

WE’LL GET YOU A GOVERNMENT APPROVED LOAN MODIFICATION!

REFINANCING AT 2% INTEREST RATES!

STOP FORECLOSURES TODAY!

Signs and radio ads like these are all over town promising struggling homeowners immediate results and immediate relief.

If it sounds too good to be true, it’s probably not legal.

Since last summer, it has been ILLEGAL for anyone other than a licensed attorney to charge up-front fees in exchange for the promise of a loan modification. If you or someone you know has fallen victim to a loan modification or foreclosure rescue scam, report it to the Attorney General’s office and then call a licensed attorney for a consultation.

The AG’s office will make a note of your complaint and may investigate, but the chances of them suing on your behalf are small.

It’s important to also have an attorney who can go after the modification company and its owners to get your money back and help undo the damage the company caused.

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Filed under Foreclosure, Loan Modifications